Wayne Bailey has been busy. Although still only in his
mid-30s, the Dublin resident has crammed plenty into his years. A librarian by
trade, his is an accredited Betfair trainer (someone endorsed by the company to
show others how the exchange works at events in the UK and Ireland) who
graduated from university with a degree in social sciences and information
studies before completing a diploma in financial trading.

More recently he had studied psychology and the behaviour of the human mind and
also spent time as a professional gambler, as well as writing a betting column
for the Irish Independent. Somehow he has also found time to pen the wonderful
Sports Trading on Betfair.

Bailey's background makes him the perfect person to write a book on carving out
a living trading the often frenetic markets on the betting exchanges and he
does not disappoint.

In 190-odd pages of A4, Bailey manages to cover all you need to know. Starting
with a history of the exchanges and the very basics, the author swiftly moves
on to more complex ideas such as scalp trading and momentum swing trading in a
manner which, refreshingly, somehow manages the neat trick of being accessible
for the novice trader while not patronising those with more experience in the
field.
While the early chapters may cover familiar ground for those who have spent
plenty of hours slavishly watching the movements of markets, they are still
well worth a read because - as the author points out early on - "sometimes
even traders are unaware of how important [a series of] numbers are and the
difference they can make to their bottom line".

An explanation of crossover points and resistance points, while invaluable to
any budding trader, will also prove to be of use to anybody who is looking at
using the exchanges just to place a straight back bet.
A chapter on the various software packages available to traders is for once
worth a look and not just a glorified advert for the author's favoured tool,
and the sections on financial spread trading actually offer something of
substance as opposed to just being space fillers.

Laying the field and in-running markets are covered in sufficient detail and
while Bailey can hardly lay claim to reinventing the wheel here, at least he
does it in such a way that he sows the seeds of the concept in the mind of the
reader rather than laying down a list of hard and fast rules. As he is quick to
stress: "Selectivity is the key."

With an information-solid background, it is no surprise to learn that Bailey is
a meticulous planner - "keeping good record of your trades is
imperative" he says, and even the most slapdash of wannabe traders will
surely come away from this book in agreement with that sentiment.

Sports trading on Betfair is no get-rich-quick scheme. Nor does it promise to
be.
Whit it is, though, is a comprehensive guide that will prove invaluable to
those wanting to make their first foray into trading while also proving to be a
great reference to those who have already done so.

This is not the first book on the subject and it probably won't be the last.
But it does collect a wealth of material for which other books and courses have
charged much more. If you can't make back the cover price by using the ideas
found here, then trading on the exchanges is probably not for you. The best
book of its type so far.

About Me

WAYNE Bailey was born in Dublin where he still lives with daughter. A librarian by profession, Wayne has always had a passion for betting and trading and has spent various periods throughout his life as a professional gambler. In 2007, he graduated from University College Dublin with a degree in social science and information studies and four years later, he completed a diploma in financial trading from the Irish Institute of Financial Trading. More recently, he studied psychology and the behaviour of the human mind. Wayne is a regular contributor to various newspapers and websites in the UK and Ireland, and he currently pens the Betting Ring column which enjoys a large dedicated following every Saturday in Ireland’s largest selling newspaper The Irish Independent. Wayne's book 'Sports Trading on Betfair' was published in 2014. Email: waynebaileyracing@gmail.com